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Nov 06, 2007 17:28 EEST
November 6 (SeeNews) - Slovenian stock indices rose further in positive mood on Tuesday and brokers expect the market to keep growing until the end of this week.
The broader 15-share SBI20 index of the Ljubljana Stock Exchange (LJSE) gained 0.34% to 11,872.22 points . The blue-chip index SBITOP went up 0.43% to 2,602.38 points.
“November brought more liveliness to the market [...] This week saw more optimism and lively trading,” Marko Jovic, an analyst with local bank Abanka Vipa, told SeeNews.
Jovic expects the positive trend to hold on until the end of the week. "The nine-month resulsts are expected now [...] I see no reason why any company of the blue chips should publish bad results,” he said.
Rubber-to-tourism group Sava was the biggest gainer among the blue chips on Tuesday, rising by 5.03% to an average price of 680.27 euro ($989) in a turnover of 345,580 euro after rising by 4.6% on Monday.
“This week Sava is rising a lot. It is difficult to say what stands behind the rise,” Jovic said.
He said Sava has important investments in local banks Gorenjska Banka and Abanka, and spa resort operators. “Now the nine-month financial results are expected, this could also be a reason for the rise,” he said, adding that only a limited amount of Sava shares are being offered on the market.
Sava is expected to publish its results on November 12. “Sava may rise further,” Jovic said but declined to elaborate.
Drug maker Krka added 0.29% to 117.74 euro on Tuesday in the day’s highest turnover of 1.528 million euro. The company’s nine month results, which brokers say could move the market, are due on Friday.
The total turnover on the LJSE rose to 6.99 million euro on Tuesday from 5.63 million euro on Monday.
($ = 0.69 euro)
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